Bank of China Wins
Its U.S. Fraud Case

NEW YORK -- A federal-court jury has supported Bank of China's claim that customers and a former employee of the bank defrauded its New York branch of $35 million over nearly 10 years.

The court decision removes a major cloud over the bank as it lays the groundwork this week to sell 25% of its Hong Kong arm in an initial public offering of shares. Bank of China (Hong Kong) Ltd. began offering applications Monday to investors in Hong...